Category: Residential Mortgages
Virgin Money has renewed its licence with property analytics business Hometrack, securing delivery of Automated Valuation Model (AVM) services for the next three years.
Vida Homeloans is marking the launch of its helping hand mortgage by offering mortgage brokers the chance to help a local school, community centre, charity or social/sports club improve its facilities in some way.
There were 34,900 new first-time buyer mortgages completed in June, some 3.6% fewer than in the same month a year earlier, UK Finance’s Mortgage Trends Update for June has found.
The change is designed to complement its existing range of later life products, by allowing lending against properties that apply age restrictions. Lending against retirement properties is now available through the Tipton’s later life products, which includes its retirement interest-only (RIO) mortgage.
There’s been a jump in consumers shopping for fixed-term deals after the base rate rise to 0.75%, analysis by Experian has found.
Brightstar Financial has launched a later life lending service for brokers through a partnership with Sentry Lifetime.
Nearly a quarter (24%) of people considered a lack of quality of build to be a major disadvantage of buying a new build home over an older property, residential warranty and commercial latent defects insurer, BLP Insurance has found.
Thousands of extra homes, specially designed for people with disabilities, mental health issues and older people who need extra support, will be created over the next three years with an additional £76m a year, the government announced.
The increase will apply to its mortgage standard variable rate, which will rise to 4.24%, as well as its offset, one account and current account rates.
Estate agents are increasingly overvaluing properties to gain listings in a challenging market, instruction generation tool Spectre has argued.